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Do you consider yourself a value investor, always looking for underestimated and potentially undervalued names? For a closer look at stocks that may be undervalued, we ran a screen.

We began with high-growth stocks, with 5-year projected EPS growth above 15%, for those currently favored by institutional investors. We screened for those with significant net institutional purchases over the last quarter, representing at least 5%.

We then screened for those that appear undervalued relative to analyst target price, which we use as a proxy for fair value. Since target prices are known to suffer from upward biases, we only used the lowest, most pessimistic analyst target price. For stocks with sufficient analyst coverage, we also only considered stocks with at least 5 analyst target prices.

Interactive Chart: Press Play to compare changes in market cap over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks should be trading higher? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases over the last quarter as a percent of share float.

1. 21Vianet Group, Inc. (NASDAQ:VNET): Provides carrier-neutral Internet data center services in China. Market cap at $722.74M, most recent closing price at $12.95. 5-year projected EPS growth at 31.50%. Of the 6 analysts that have set a target price on the stock, the lowest price target stands at $15.00. This implies a current upside of 18.11% from current levels around $12.70. Net institutional purchases in the current quarter at 4.2M shares, which represents about 13.54% of the company's float of 31.01M shares.

2. Skullcandy, Inc. (NASDAQ:SKUL): Develops and distributes headphones and other audio accessories to retailers in the United States and to distributors in various countries worldwide. Market cap at $448.21M, most recent closing price at $16.14. 5-year projected EPS growth at 20.50%. Of the 9 analysts that have set a target price on the stock, the lowest price target stands at $20.00. This implies a current upside of 27.63% from current levels around $15.67. Net institutional purchases in the current quarter at 1.1M shares, which represents about 13.21% of the company's float of 8.33M shares.

3. Resolute Energy Corporation (NYSE:REN): Engages in the acquisition, exploration, exploitation, and development of oil and gas properties primarily in onshore properties in the United States. Market cap at $655.71M, most recent closing price at $10.55. 5-year projected EPS growth at 35.85%. Of the 6 analysts that have set a target price on the stock, the lowest price target stands at $13.00. This implies a current upside of 21.27% from current levels around $10.72. Net institutional purchases in the current quarter at 3.5M shares, which represents about 12.76% of the company's float of 27.44M shares.

4. Glu Mobile, Inc. (NASDAQ:GLUU): Engages in the design, marketing, and sale of casual and traditional mobile games worldwide. Market cap at $293.3M, most recent closing price at $4.57. 5-year projected EPS growth at 33.75%. Of the 7 analysts that have set a target price on the stock, the lowest price target stands at $6.00. This implies a current upside of 32.74% from current levels around $4.52. Net institutional purchases in the current quarter at 5.9M shares, which represents about 11.85% of the company's float of 49.77M shares.

5. Accretive Health, Inc. (NYSE:AH): Provides end-to-end healthcare revenue cycle management services and population health management services to hospitals and healthcare providers in the United States. Market cap at $911.48M, most recent closing price at $9.12. 5-year projected EPS growth at 26.67%. Of the 7 analysts that have set a target price on the stock, the lowest price target stands at $12.00. This implies a current upside of 28.62% from current levels around $9.33. Net institutional purchases in the current quarter at 5.3M shares, which represents about 10.97% of the company's float of 48.30M shares.

6. The Blackstone Group (NYSE:BX): Provides alternative asset management and financial advisory services worldwide. Market cap at $15.38B, most recent closing price at $13.51. 5-year projected EPS growth at 17.25%. Of the 14 analysts that have set a target price on the stock, the lowest price target stands at $16.00. This implies a current upside of 19.94% from current levels around $13.34. Net institutional purchases in the current quarter at 39.0M shares, which represents about 10.29% of the company's float of 378.93M shares.

7. Caribou Coffee Company, Inc. (NASDAQ:CBOU): Operates coffeehouses primarily in the United States. Market cap at $350.7M, most recent closing price at $16.70. 5-year projected EPS growth at 23.25%. Of the 5 analysts that have set a target price on the stock, the lowest price target stands at $20.00. This implies a current upside of 19.98% from current levels around $16.67. Net institutional purchases in the current quarter at 1.9M shares, which represents about 10.24% of the company's float of 18.56M shares.

8. Primoris Services Corporation (NASDAQ:PRIM): Provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and product engineering services. Market cap at $741.08M, most recent closing price at $14.30. 5-year projected EPS growth at 16.20%. Of the 6 analysts that have set a target price on the stock, the lowest price target stands at $17.50. This implies a current upside of 17.37% from current levels around $14.91. Net institutional purchases in the current quarter at 2.4M shares, which represents about 8.09% of the company's float of 29.65M shares.

9. Superior Energy Services, Inc. (NYSE:SPN): Provides specialized oilfield services and equipment to serve the production and drilling related needs of oil and gas companies. Market cap at $4.3B, most recent closing price at $26.96. 5-year projected EPS growth at 41.20%. Of the 10 analysts that have set a target price on the stock, the lowest price target stands at $35.00. This implies a current upside of 33.08% from current levels around $26.30. Net institutional purchases in the current quarter at 12.3M shares, which represents about 7.88% of the company's float of 156.16M shares.

10. TTM Technologies Inc. (NASDAQ:TTMI): Provides backplane and sub-system assembly services in the United States and internationally. Market cap at $841.87M, most recent closing price at $9.76. 5-year projected EPS growth at 19.90%. Of the 7 analysts that have set a target price on the stock, the lowest price target stands at $14.00. This implies a current upside of 28.44% from current levels around $10.90. Net institutional purchases in the current quarter at 3.9M shares, which represents about 7.49% of the company's float of 52.07M shares.

11. Calix Inc. (NYSE:CALX): Market cap at $363.81M, most recent closing price at $7.67. 5-year projected EPS growth at 24.67%. Of the 6 analysts that have set a target price on the stock, the lowest price target stands at $10.00. This implies a current upside of 24.22% from current levels around $8.05. Net institutional purchases in the current quarter at 2.5M shares, which represents about 7.44% of the company's float of 33.61M shares.

12. Gulfport Energy Corp. (NASDAQ:GPOR): Develops, and produces oil and gas in the Louisiana Gulf Coast. Market cap at $1.51B, most recent closing price at $26.54. 5-year projected EPS growth at 48.00%. Of the 11 analysts that have set a target price on the stock, the lowest price target stands at $35.00. This implies a current upside of 32.98% from current levels around $26.32. Net institutional purchases in the current quarter at 2.8M shares, which represents about 5.67% of the company's float of 49.41M shares.

13. CEVA Inc. (NASDAQ:CEVA): Engages in designing and licensing silicon intellectual property for the handsets, portable multimedia, and consumer electronics markets. Market cap at $524.53M, most recent closing price at $19.93. Of the 9 analysts that have set a target price on the stock, the lowest price target stands at $28.00. This implies a current upside of 30.48% from current levels around $21.46. 5-year projected EPS growth at 29.14%. Net institutional purchases in the current quarter at 1.3M shares, which represents about 5.66% of the company's float of 22.98M shares.

14. Echo Global Logistics, Inc. (NASDAQ:ECHO): Provides technology enabled transportation and supply chain management services in the United States. Market cap at $384.02M, most recent closing price at $17.15. 5-year projected EPS growth at 31.60%. Of the 6 analysts that have set a target price on the stock, the lowest price target stands at $20.00. This implies a current upside of 16.28% from current levels around $17.20. Net institutional purchases in the current quarter at 634.9K shares, which represents about 5.45% of the company's float of 11.64M shares.

15. TempurPedic International Inc. (NYSE:TPX): Distributes bedding products worldwide. Market cap at $3.74B, most recent closing price at $58.55. 5-year projected EPS growth at 15.80%. Of the 9 analysts that have set a target price on the stock, the lowest price target stands at $73.00. This implies a current upside of 22.40% from current levels around $59.64. Net institutional purchases in the current quarter at 3.1M shares, which represents about 5.37% of the company's float of 57.69M shares.

16. Ameresco, Inc. (NYSE:AMRC): Provides energy efficiency solutions for facilities in North America. Market cap at $539.59M, most recent closing price at $12.13. 5-year projected EPS growth at 16.55%. Of the 7 analysts that have set a target price on the stock, the lowest price target stands at $15.00. This implies a current upside of 21.46% from current levels around $12.35. Net institutional purchases in the current quarter at 843.5K shares, which represents about 5.12% of the company's float of 16.48M shares.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 16 High-Growth Hedge Fund Stock Picks Undervalued By Target Price